Platform Technology Partners Reduces Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Platform Technology Partners lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 28.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,654 shares of the company’s stock after selling 1,482 shares during the quarter. Platform Technology Partners’ holdings in GE HealthCare Technologies were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GEHC. Mesirow Financial Investment Management Inc. raised its position in shares of GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after purchasing an additional 1,159 shares during the period. Cathy Pareto & Associates Inc. bought a new stake in GE HealthCare Technologies during the 4th quarter valued at $670,000. LMR Partners LLP purchased a new stake in shares of GE HealthCare Technologies during the third quarter worth $7,387,000. Principal Financial Group Inc. grew its position in shares of GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $1,396,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $96.00.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $87.64 on Friday. The company has a market capitalization of $40.04 billion, a P/E ratio of 24.08, a P/E/G ratio of 2.92 and a beta of 1.14. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.55. The company has a fifty day moving average of $83.34 and a 200-day moving average of $85.21.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.